Halifax Bank of Scotland (HBoS) has been one of the financial disasters of the last year.
It came to light during a Treasury Committee meeting that they had sacked its Head of Group Risk in 2005. The employee warned had against the costly mistakes which ultimately forced the bank to merge with Lloyds TSB. He was replaced by somebody with limited rise experience.
Posted by Sean Wilson, Independent Financial Adviser, Swindon, Wiltshire